Users of China UnionPay's mobile payment app hit 150 million

Banking card association China UnionPay announced that the number of registered users for its mobile payment application had reached 150 million as of Tuesday, less than 18 months after its launch.

User can make payments, buy wealth management products and make debit card balance inquires on the app Cloud Quick Pass, the Shanghai-based company said.

The platform supports online applications for more than 80 types of credit cards from 21 banks, and cardholders of over 230 lenders can make mobile payments by scanning the association’s quick response (QR) code.

China UnionPay also said it is gradually expanding Cloud Quick Pass use for public transportation, convenience store sales and medical treatment among other scenarios.

Currently, users in 18 cities including Shanghai, Guangzhou and Chongqing can take local buses using the app’s QR code.

Looking ahead, the company said it will join hands with more commercial banks to provide additional services through the app.